Answer:
The statement is: True.
Explanation:
Currency exchange rates determine how much currency values compared to another currency. Different factors influence the valuation of those currencies but mainly it depends on how much they can be used and accepted in different parts of the world. The more regions accepting the currency, the higher the value of the currency.
<em>Nowadays the United States dollar (USD) is the most used currency worldwide. However, it has historically had a lower value than the Euro (EUR). It means the USD is weaker in front of the EUR even nowadays, implying every time people want to exchange dollars for euros they get fewer euros for more dollars.</em>
Answer:
$101,104
Explanation:
Calculation for the equivalent annual worth
Using this formula
Equivalent annual worth=Operating cost(A/P,i,n)+ Operating cost
Let plug in the formula
Equivalent annual worth=80,000(A/P,10%,5) + 80,000
Using financial calculator (A/P,10%,5) will give us (0.26380)
Hence,
Equivalent annual worth=80,000(0.26380) + 80,000
Equivalent annual worth=$21,104+$80,000
Equivalent annual worth== $101,104
Therefore the Equivalent annual worth will be $101,104
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Answer:
a) $250,000
b) Zero
c) $6,100
d) $47,500
Explanation:
a) Bloomington owes $250,000 at year-end 2016 for inventory purchase.\
This relates to account payable and the amount to be reported as liability as at year-end 2016 is $250,000.
b)Bloomington agreed to purchase a $31,000 drill press in January 2017.
No liability will be recognized at year-end because the entity has no present obligation as there is no legal or constructive responsibility to pay $31,000. What occurred is just an agreement that can be altered.
c) During November and December of 2016, Bloomington sold products to a customer and warranted them against product failure for 90 days. Estimated costs of honoring this 90-day warranty during 2017 are $6,100.
The entity will recognized $6,100 as warranty payable as the entity has a present obligation as at year-end 2016 to compensate the customer.
d)Bloomington provides a profit-sharing bonus for its executive equal to 5% of reported pretax annual income. The estimated pretax income for 2016 is $950,000. Bonuses are not paid until January of the following year
The entity will report 5% of $950,000 ($47,500) as liability at year-end 2016 as the the entity has a present obligation to settle its executive.
Please forgive me if I’m wrong
I think it would be a.true
